Other forms of insurance cover employers, public and product liability.But various professional services and products can give rise to legal claims without causing any of the specific types of harm covered by such policies.These are causes for legal action that would not be covered by a more general liability insurance policy which addresses more direct forms of harm.Professional liability insurance may take on different forms and names depending on the profession, especially medical and legal, and is sometimes required under contract by other businesses that are the beneficiaries of the advice or service.That would have the effect of turning the car insurance industry’s risk-assessment-based business model on its head.Before long, there would be no car insurance industry and we’d all be paying for damages and injuries out of pocket.
Here is the difference in dollars and cents from Banner Life: Actual Age 59 (60 for life insurance purposes): 7.55 per month/70.60 per year = ,412.00 over a 20 year term Actual Age 60 (61 for life insurance purposes): 7.39 per month/48.68 per year = 973.60 over a 20 year term Fortunately, life insurance companies let you backdate your policy to lock in a premium for a specific age.
So let me fill you in on an industry secret…Most consumers are unaware that life insurance companies use your “nearest age” rather than your actual age to calculate premiums for your policy. Let’s say you turned 60 years old on October 1st 2016.
Your actual age today is 60, so it would be logical for you to expect to receive a quote for that age.
Well, I am here today to fill you in on this super cool tip which may save you some money on your premiums.
At Huntley Wealth we love a good deal and we sure are good at getting ’em!